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Albemarle (NYSE:ALB) +2.5% post-market Monday after disclosing preliminary Q4 adjusted earnings of $8.35-$8.75/share, above the market consensus estimate of $7.87, while targeting FY 2023 adjusted EPS of $26-$33, in line with expectations of $28.08.
Albemarle (ALB), which is scheduled to report Q4 results after the market closes February 15 and host its virtual 2023 strategy update tomorrow, also estimated Q4 revenues of $2.59B-$2.65B, in line with Wall Street estimates of $2.61B, and adjusted EBITDA of $1.21B-$1.26B, more than 5x higher than the year-earlier quarter.
For FY 2023, the lithium producer targeted net sales of $11.3B-$12.9B and adjusted EBITDA of $4.2B-$5.1B.
Over the longer term, the company forecasts a five-year net sales compound annual growth rate of 19%-21%, with 2027 adjusted EBITDA estimated at $7.2B-$8.4B.
Deutsche Bank said last week a strong long-term outlook from Albemarle (ALB) would help boost shares, calling the stock a “catalyst buy.”
